Forsta AP Fonden Increases Stock Holdings in Autodesk, Inc. (NASDAQ:ADSK)

Key Points

• Forsta AP Fonden increased its stake in Autodesk, Inc. by 64.7% in the first quarter, holding 75,100 shares valued at approximately $19.66 million.
• Analyst price targets for Autodesk have risen, with Barclays setting a new price target at $355.00 and Morgan Stanley at $370.00, indicating strong investor interest.
• Insider Rebecca Pearce sold over 3,000 shares of Autodesk stock, which represented a 14.33% decrease in her ownership, highlighting possible concerns within the company.

Forsta AP Fonden boosted its stake in Autodesk, Inc. (NASDAQ:ADSK - Free Report) by 64.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 75,100 shares of the software company's stock after acquiring an additional 29,500 shares during the quarter. Forsta AP Fonden's holdings in Autodesk were worth $19,661,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Autodesk by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 20,782,919 shares of the software company's stock worth $5,440,968,000 after purchasing an additional 397,458 shares during the last quarter. Ninety One UK Ltd boosted its stake in Autodesk by 1.6% during the 1st quarter. Ninety One UK Ltd now owns 5,146,677 shares of the software company's stock worth $1,347,400,000 after purchasing an additional 79,900 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Autodesk by 28.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,750 shares of the software company's stock worth $902,597,000 after purchasing an additional 667,763 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Autodesk by 4.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,000,268 shares of the software company's stock worth $785,470,000 after purchasing an additional 124,948 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Autodesk by 20.6% during the 4th quarter. Northern Trust Corp now owns 2,462,810 shares of the software company's stock worth $727,933,000 after purchasing an additional 420,838 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company's stock.

Insider Transactions at Autodesk

In related news, EVP Rebecca Pearce sold 3,251 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $315.00, for a total value of $1,024,065.00. Following the sale, the executive vice president owned 19,440 shares of the company's stock, valued at $6,123,600. This trade represents a 14.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 9,391 shares of company stock worth $2,909,885 in the last 90 days. 0.15% of the stock is owned by corporate insiders.

Autodesk Trading Down 2.1%

NASDAQ:ADSK traded down $6.06 on Monday, reaching $284.62. 2,227,591 shares of the company's stock were exchanged, compared to its average volume of 1,462,522. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $60.91 billion, a price-to-earnings ratio of 60.95, a price-to-earnings-growth ratio of 2.80 and a beta of 1.46. The business has a fifty day moving average of $300.24 and a 200-day moving average of $286.31. Autodesk, Inc. has a 52-week low of $232.67 and a 52-week high of $326.62.

Analyst Ratings Changes

ADSK has been the topic of several recent research reports. Morgan Stanley reaffirmed an "overweight" rating and set a $370.00 target price (up previously from $330.00) on shares of Autodesk in a research note on Friday, May 23rd. KeyCorp reaffirmed an "overweight" rating and set a $350.00 target price (up previously from $323.00) on shares of Autodesk in a research note on Friday, May 23rd. Citigroup boosted their price target on shares of Autodesk from $374.00 to $376.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Bank of America boosted their price target on shares of Autodesk from $290.00 to $330.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Finally, Barclays boosted their price target on shares of Autodesk from $325.00 to $355.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $342.61.

Autodesk Company Profile

Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; AutoCAD, a software for professional design, drafting, detailing, and visualization; AutoCAD LT, a drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; Fusion 360, a 3D CAD, CAM, and computer-aided engineering tool; and Industry Collections tools for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment collection industries.